TheWorldBankProjectFinanceGuarantees世界银行项目融资与担保课件.ppt

1、June 29-30,2019What are the guarantee products designed to do?The relevance in todays investment climatePrincipal types of guaranteesPartial Risk Guarantees Partial Risk Guarantees mitigate concerns related to government performance Commercial LendersProject CompanyGovernmentGuaranteeIndemnity Agree

2、mentGovernment UndertakingsLoansWorld BankPRGs offer flexibility in the guarantee coverage that it can offerBut PRGs do not cover commercial risks.Preferred guarantee modalityPartial Credit Guaranteescan help in the following situationsPartial Credit Guarantees can help financelong term public inves

3、tments$150 millionAverage financing term forChina withoutWB GuaranteeAdditional uncoveredrisk taken bycommercial banksWBGuaranteedTotal risk assumed by commercial banks$50 million03691215Partial Credit Guarantees can help finance long term public investmentsGuarantees help extend maturities.77325570

4、151515151571015101012101416024681012141618ChinaPhilippinesPakistanJordanLebanonMoroccoRussia/UkraineThailandCote dIvoireColombiaBangladeshVietnamMaturity(years)without Guaranteewith Guarantee and at the same time reduce spreads3.0%4.5%3.0%3.0%3.4%8.5%6.5%3.0%5.0%0.6%2.0%2.8%0.75%3.0%2.0%2.0%2.9%2.0%

5、1.1%1.0%2.5%5.0%0%1%2%3%4%5%6%7%8%9%ChinaPhilippinesPakistanJordanLebanonMoroccoThailandCote dIvoireColombiaBangladeshVietnamInterest Spreads over USTwithout Guaranteewith Guaranteeand have an important catalytic impact0500100015002000China YangzhouPhilippines LeytePakistan HubChina ZheijiangJordan

6、TelecomChina ErtanPakistan UchLebanon PowerMorocco Jorf LasfarThailand EGATCote dIvoire PowerArgentina PBGColombia PBGBangladesh HaripurVietnam Phu My 2-2US$MillionGuaranteed AmountPrivate Capital MobilizedGuarantee benefits to the government:Transaction BenefitsGuarantee benefits to the government:

7、Fiscal Perspective The WB Partial Risk Guarantee usually does not increase contingent liabilitiesGuarantee benefits to the private sector Pre-Conditions for Use of GuaranteesGuarantee Pricing and Loan EquivalencyIBRD GuaranteesLoansFront-end fee Front-end feeStandby feeCommitment feeGuarantee feeLen

8、ding spread IDA GuaranteesCreditsStandby feeCommitment ChargeGuarantee feeService Charge IBRD/IDA PRG Fees(Charges for FY05 in basis points)1.Determined on a case by case basis.Exceptional projects can be charged over 50 bps of the guaranteed amount.IBRD PRGIDA PRGIBRD PCG Fees(Charges for FY05 in basis points)1.Fee charges net of applicable waiver.IBRD PCGGuarantee support for government reform agenda can be very flexible